Austock Group Limited announced the appointment of Mr. Frederick "George" Albion Beaumont, QC as an independent, non-executive director of the company, effective immediately. Mr. Beaumont has practised as a barrister for over 42 years. Mr. Beaumont has served as an independent, non-executive director of Austock Life Limited since its inception in 2002 and will continue in this role. Coinciding with Mr. Beaumont's appointment, Mr. Paul Masi has stepped down as a non-executive director of the Company, effective immediately. Mr. Masi served as Austock's Chief Executive Officer and Managing Director from March 2010 to March 2012 and subsequently as a non-executive director. Mr. Steven Gregg has announced that he will retire from the Board on 9 May 2012. At this time, Mr. Beaumont will become Non-Executive Chairman of the Company.